News for 'sumitomo-mitsui-financial-group'

After Yes stake buy, Japan's SMBC gets RBI nod for wholly owned subsidiary

Months after picking up 24.21 per cent stake in private sector lender Yes Bank, Japan's Sumitomo Mitsui Banking Corporation (SMBC) has received the Reserve Bank of India's (RBI's) in-principle approval for setting up a wholly owned subsidiary (WOS) in India.

$6-Billion Foreign Bet on India's Private Banks

Cleaner balance sheets, regulatory support and strong growth prospects helped Indian private banks attract over $6 billion in foreign capital, with more deals expected in 2026.

SBI sells 13.18% Yes Bank pie for Rs 8,889 cr

The country's largest lender State Bank of India on Wednesday announced the completion of the divestment of about 13.18 per cent stake in Yes Bank to Sumitomo Mitsui Banking Corporation of Japan for Rs 8,888.97 crore. State Bank of India (SBI) has received Rs 8,888.97 crore from the acquirer Sumitomo Mitsui Banking Corporation (SMBC), a Japanese multinational financial services company belonging to the Sumitomo Mitsui Financial Group (SMFG), the bank said in a regulatory filing.

Japanese merger creates world's largest bank